EAVEX Weekly

October 29, 2015

Kyiv-listed stocks slipped backward on Wednesday (Oct 28) after their solid rise a day earlier. The UX index declined 1.6% to close at 793 points. Among blue chips, 8 out of 10 issues ended in the red. Mariupol-based Azovstal (AZST) was once again the worst performer, losing 4.3% to 55 kopecks. In the electricity sector, CentrEnergo (CEEN) shed 1.4% to UAH 5.52 and DonbasEnergo (DOEN) was flat near UAH 18.50, while second-tier name ZakhidEnergo (ZAEN) added 2.3% to UAH 92 per share. There was little action on the interbank currency market, with the dollar sell rate inching up by a negligible 3 kopecks to 22.98 UAH/USD. Today the NBU will announce its key interest rate decision; the current base rate is 22% and we previously expected it could be lowered to 20%. However, we do not rule out that the NBU will keep it unchanged, as inflation in September was higher than forecasted. In London, Ferrexpo (FXPO) dropped by 4.9% to GBp 35.00 and MHP (MHPC) slipped half a percent to USD 9.25. War